The spokesman, who WWD didn't identify by name, said part of the
problem was timing:

“'There are two spikes during the Christmas season, Black
Friday and last-minute shopping just before Christmas,' he said.
'There’s that lull in between. The line was timed to excite
consumers during that time. We underestimated that lull.
Consumers were fatigued coming out of Black Friday. They were
looking for deals.'"

He also said pricing was an issue:

"'It was priced a bit higher than some of our partnerships
because products had real silk, hand-beading and 18-karat gold.
We believe we created a price barrier. This is clear given the
strong uptick in sales once the collection went on sale at 50
percent off. It was also all about inventory. Missoni + Target
sold out in a day. There was so much excitement going into the
[Neiman’s] partnership that, in an effort not to disappoint
guests, we more than doubled the inventory. We still moved
through most of the collection, but there were some barriers we
faced.'”